Is the €1,270 CGT exemption based on the calendar year?

[settlement]

Hi all,

I understand the first 1270 is exempt from CGT. Is this per calendar year or per 12 month period?

Eg I make a profit of 2000. I sell to realise 1000 in December 2017 which is exempt from CGT. Can I then sell the other 1000 in January 2018 and still be exempt as it is a new tax year? Or must I wait until Dec 2018?

 

[dub_nerd]

It is per tax year, which nowadays is the same as calendar years. You can sell one lot on Dec 31st and another on Jan 1st (if the markets were open) and they would all be exempt.

Note that if you are liable for gains above the exemption limit, even though the accounting date for them is whenever you do your return for the previous year, the payment date is much earlier (indeed there are two of them, the first in November of the year you made the gain).

 

[settlement]

Thanks dub_nerd